Franco-Nevada Corporation $FNV Stock Holdings Boosted by Allianz SE

Allianz SE grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 17.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,392 shares of the basic materials company’s stock after acquiring an additional 3,189 shares during the period. Allianz SE’s holdings in Franco-Nevada were worth $4,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Franco-Nevada in the third quarter valued at $28,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Navalign LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their target price for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $271.00.

Franco-Nevada Trading Up 0.8%

FNV opened at $209.68 on Friday. The firm’s fifty day simple moving average is $236.90 and its 200 day simple moving average is $235.86. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The stock has a market capitalization of $40.44 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.81 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. During the same period last year, the business posted $1.07 EPS. Franco-Nevada’s revenue was up 76.6% on a year-over-year basis. On average, equities research analysts predict that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a $0.44 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is currently 24.79%.

About Franco-Nevada

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.